Marketing Project Progress Report: Audio Product Promotion

This report details the progress of an advertising project aimed at promoting a new audio product business. The report outlines the project's current status, including the preparation of materials for local newspaper advertisements and research into social media marketing strategies. The project is generally on track but faces challenges in securing a publisher for the newspaper advertisements within the allocated budget. The report further documents the remaining work to be done, including content creation for social media and the potential need for paid promotions to reach the target audience. A budget breakdown is provided, totaling $31,360 for the remaining tasks. The report concludes with a summary of the progress and emphasizes the importance of finalizing the newspaper publisher to ensure the project's completion within the scheduled timeframe and budget of $38,000.

To: Project Owner
From: Project Manager
Date: 02.01.2020
Subject: Project Progress Report

1. Introduction
Generation of regular progress reports is necessary to monitor if the project is in track.
The undertaken project aims in promotion of a new business that deals with audio products
including headphones and speakers. The memorandum is prepared to discuss the progress of
the project till date and the problems and issues that the project has faced till date. The
memorandum will further document the works that are needed to be completed to end the
project within a scheduled time.
2. Project Progress
The memorandum aims in documentation of the project progress to discuss the
current status of the project and the problems that the project has faced till date. The
undertaken project aims in promotion of the business on a local newspaper along with
marketing the business on the social media platform. The business promotions is to be
completed within the allocated budget or a total fund of $38,000. Few of the works have
already been completed. The current status of the projects and the problems encountered till
date are documented in the following sections.
2.1. Current Status of the Project
The project team so far have prepared the materials to be published in the local
newspaper. The team has taken good and expressive picture of the products that are needed to
be advertised to attract the customers in buying the products. The information to be printed in
the newspaper is ready with the team and it needs publishing. Also, Harry and Jane have been
into research about social media marketing to develop expressive content to be posted on
social media. The project is found to be in track when compared with the actual project plan.
2.2. Problems Encountered
The main problem that is encountered so far is finding suitable publishers who will
print the advertisement in a low cost or within budget. However, the team has managed to
find two three publishers of the local newspapers; however the deal is yet to be signed. Any
further delay in signing the deal can delay the entire execution process of the project.
3. Remaining Work to be done
A lot of work is needed to be done. Another problem that can be encountered in the
project is problem of designing attractive content that is to be posted on social media. The
1

social media promotions are effective only if the advertisement reaches the right audience.
Paid promotions might be needed in case the marketing does not reach the required audience
count.
The budget breakdown of the remaining work is indicated in the table below-
Resource Unit Per hour Cost per Hour Total Cost
Project Team 4 40 $15,360
Advertising in Local
Newspaper
0 $10,000 $10,000
Online Research 0 $1,000 $1,000
Social media
Promotions
0 $5,000 $5,000
Total Cost $31,360
Table 1: Illustrating the Budget Breakdown of the Remaining Works
4. Conclusion
The memorandum discusses the progress that is made till date in the advertising
project. Till now the project is in track however, any delays in finalizing the newspaper in
which the advertisement will be published will incur an overall schedule delay in the project.
The team needs to finalize the newspaper publisher to complete the undertaken advertising
project within the scheduled time and allocated budget of $38,000.
2